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The Italian car manufacturer Ferrari has announced it had an excellent 2008, despite the crisis that shook the automotive world. In 2008, Return On Sale (ROS) growth that began in the previous years continued and recorded another increase. Right, you could argue that the rise from the 15.9 percent in 2007 to 17.6 percent last year is small. After all, it only represents 1.7 percent. It is, however, an increase and no matter the size is a cause for joy in these troubled times.

Ferrari ended the 2008 financial year with revenues of 1,921 million euro, an increase of 15.2% on the 1,668 million euro recorded in 2007. This rise comes mainly as a result of sales of the 430 Scuderia, the 612 Scaglietti and 599 GTB Fiorano 12-cylinder models. At the same time, e-commerce increased by a whopping 67 percent.

The increase was achieved by Ferrari not only by simply staying on the market, but also by applying cost reduction measures. Research costs were not part of those measures, as the percentage dedicated to this part of the business increased by 18 percent. 2008 saw Ferrari launch the One to One Personalisation Program for its 12-cylinder models and a new client assistance program.

As for the ongoing year, company chairman Luca di Montezemolo said "The economic climate in 2009 remains very uncertain as the crisis takes its toll across the globe and it is hard to say how the situation will develop from here. That means, of course, that Ferrari will have to lavish even more attention on every single detail and continue to innovate whilst preserving the exclusivity of our products with respect to market demands."

It remains to be seen whether the measures taken last year will be followed by at least as good initiatives in the future, especially because the segment Ferrari targets with its vehicles is the most likely to be hit by future economic developments
 

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And a year from now they will report how dismal the year is.

Remember that that reporting covers a portion of the past year wherein they were still riding high.

Fiat has temporarily closed a ton of plants and has furlowed 50K people through February!

With Ferrari selling on 50 cars in the US for January things are not rosey.
 
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